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English Views: 666 Author: Site Editor Publish Time: 2024-10-04 Origin: Site
Vietnam, the shining pearl in Southeast Asia, has become an important market that cannot be ignored in the region with its large population base and sustained and stable fertility rate. As the third most populous country in Southeast Asia, Vietnam's total population has exceeded the 100 million mark in 2023, and has demonstrated strong fertility vitality and stable population growth. In addition, in recent years, Vietnam's booming economy and significant increase in national income have injected strong consumption power into the maternal and infant products market, especially the baby diaper market, creating a market space full of vitality and potential.
Baby diapers are an important category in the maternal and infant products market, and their market demand is closely linked to population growth trends and consumer purchasing power levels. In the hot land of Vietnam, with the increasing demand of local families for infant care, the demand for baby diapers has also increased, showing a steady upward trend. Not only that, as consumers increasingly demand product quality, the baby diaper market has also shown a diversified and quality-oriented consumption trend, providing market participants with more development opportunities and challenges.
In terms of market size, the Vietnamese baby diaper market has shown strong growth momentum. According to data from Statista's global business data platform, the revenue of the Vietnamese baby diaper market is expected to reach US$610 million in 2024. The compound annual growth rate (CAGR) of this market is expected to be 7.11% from 2024 to 2029. The continued growth in consumer demand and consumers' strong pursuit of high-quality baby diaper products have made the local baby diaper market full of unlimited possibilities.
In terms of consumer behavior, Vietnamese consumers show a variety of preferences when buying baby diapers. Online channels and maternal and child stores have become their main channels for purchasing baby diapers. Among them, the five major e-commerce platforms in Vietnam are Lazada, Shopee, Tiki, Sendo and TikTok Shop, which are favored by consumers for transparent prices, convenient purchases and rich product choices. These platforms not only provide consumers with a more convenient shopping experience, but also further stimulate their desire to buy through promotional activities and coupons.
There are many baby diaper brands in the Vietnamese market, including well-known multinational brands such as Huggies, Merries, Moony, Pampers, etc., which have occupied a certain share of the Vietnamese baby diaper market with their brand influence and technical strength; there are also local brands such as Merzy, etc., which have won the favor of consumers through precise market positioning and price advantages. Diaper products of different brands have their own advantages in terms of material, water absorption, breathability, etc., which meet the personalized needs of different consumers.
In addition, multinational companies Procter & Gamble and Unicharm have built factories in Vietnam to produce baby diapers. With the continuous segmentation of market demand and the increasing demand of consumers for product quality, different brands have also begun to adopt differentiated competition strategies. By launching products targeting specific consumer groups and specific usage scenarios to meet the personalized needs of consumers, for example, in order to promote the transformation of the local baby diaper market to pants-type products, Unicharm Vietnam will launch a pants-type diaper designed for newborns in 2023 that can be opened and fitted on one side, aiming to gain market opportunities.
Vietnam's high population growth rate and stable fertility rate provide a solid consumer base for the baby diaper market. The positive population growth has injected a steady stream of consumer base and demand into the market. This demographic dividend not only provides a broad space for development for market participants, but also promotes the sustained and healthy development of the entire industry.
With the improvement of education level and income, Vietnamese consumers' health awareness has gradually increased. In particular, they pay more attention to the quality and safety of products when choosing infant products. This trend is expected to promote the rapid development of the high-quality baby diaper market, making more and more Vietnamese families willing to invest more energy and money in the healthy growth of their children.
With the popularization of the Internet and the rise of e-commerce platforms, the vigorous development of online channels in Vietnam will boost the online retail of baby diapers. Compared with traditional channels, online sales channels are more convenient to purchase and conform to the shopping habits of the new generation of parents.
Based on the information about the Vietnamese baby diaper market, we can see that there are some opportunities there, and it's worthy of the attention of sanitary product companies. Meanwhile, when exporting products or investing in factories in Southeast Asian markets like Vietnam, diaper brands should have a careful, steady and reasonable attitude. They need to comprehensively consider local market demand, channel building, brand promotion, after-sales service and environmental protection trends and other investment factors to make sure of steady progress and success in the highly competitive baby diaper market.
If you want to set up a factory in Vietnam or have already set up a factory and want to find a suitable supplier of diaper raw materials, Lonsun is the right choice for you. Lonsun can provide one-stop sourcing service and look forward to cooperating with you.
